Saudi Arabia Forklift Rental Market to Grow with a CAGR of 8.41% through 2030
Rising demand from logistics and warehousing, growing construction
activities, and cost-effective fleet management solutions are the factors
driving the market in the forecast period 2026–2030.
According to TechSci Research report, “Saudi Arabia Forklift
Rental Market – Industry Size, Share, Trends, Opportunity, and Forecast, 2020-2030F”,
The Saudi Arabia Forklift Rental Market was valued at USD 521.74 Million in
2024 and is expected to reach USD 846.98 Million by 2030 with a CAGR of 8.41%
during the forecast period.
The Saudi Arabia forklift rental market is gaining strength amid rising
labor optimization needs, stringent occupational safety norms, and the evolving
preference for customized rental packages. Companies are increasingly renting
forklifts to meet compliance requirements related to load-handling safety and
reduce downtime from equipment failure. Demand is especially prominent among
sectors operating in time-sensitive environments, such as food distribution,
pharmaceuticals, and oil & gas, where equipment reliability and
availability are critical. Seasonal surges in construction and event-driven
logistics are pushing demand for short-term rentals, while companies with
cyclical operations are leveraging flexible contracts that align with project
durations.
The Kingdom's aggressive push for automation and smart logistics is also
impacting rental patterns, as users look for fleet integration with warehouse
management systems and telematics tracking. Technological advancements in
electric forklifts and the growing penetration of low-maintenance lithium-ion
variants are contributing to the shift away from ownership, as renters benefit
from reduced maintenance costs and improved energy efficiency. Forklift rental
providers are responding by expanding their inventories to include smart and
eco-friendly equipment. The push for sustainable operations under ESG mandates
is further accelerating this transition, as rental allows companies to trial
green machinery without upfront investments..
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in-depth TOC on "Saudi Arabia Forklift Rental Market"
Saudi
Arabia Forklift Rental Market Is Segmented by Operating Weight, Propulsion
Type, Rental Period, and Region.
In 2024, the short-term
rental segment emerged as the fastest-growing category in Saudi Arabia’s
forklift rental market. This surge was largely driven by increased
project-based demand, especially from construction and logistics sectors
undertaking time-bound contracts. Seasonal demand spikes, warehouse turnover
cycles, and promotional event logistics contributed to short-term rental
popularity, as businesses preferred renting forklifts for days or weeks instead
of committing to long-term contracts. The short-term model allowed operational
flexibility while reducing the need for capital-intensive purchases, especially
for companies looking to adapt quickly to shifting inventory volumes or
temporary site requirements. The growing availability of rental packages
tailored for short durations, complete with servicing and operator support,
made this option more attractive for diverse end users. The trend also
benefited from an increase in last-mile logistics and retail warehousing
activities, where frequent equipment rotation is common.
Among the major regions,
the Western region of Saudi Arabia recorded the fastest growth in forklift
rental activity in 2024. This expansion was propelled by high construction
intensity in cities like Jeddah and Makkah, along with continued investment in urban
infrastructure and logistics facilities. The presence of major seaports and
ongoing megaprojects stimulated short-term material handling demand, further
reinforcing the region’s lead in rental volume.
Major Market
Players Operating in Saudi Arabia Forklift Rental Market Are:
Expertise
Contracting Co Ltd
Mohammed
Abdullah Al Areedh Company
Arab
International Transport and Heavy Equipmenty Company Ltd.
Fahad S.
Al-Tamimi Group
KITES
Equipment Rental
Dayim
Equipment Rental
Kanoo
Machinery
United
Gulf Equipment and Machinery LLC
Bluefin
Heavy Equipment Rentals
Bin
Quraya Construction
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“As we observe the shifting
dynamics in Saudi Arabia’s forklift rental market, it’s clear that businesses
are becoming increasingly strategic in managing their operational costs. The
market isn’t just growing because of large-scale infrastructure projects it’s
also being reshaped by how companies are rethinking ownership. Renting
forklifts, especially for short durations, is allowing firms to stay agile,
reduce downtime, and access the latest technology without locking in long-term
investments. What’s fascinating is the rising demand from sectors that weren’t
traditionally heavy renters, like retail logistics and event management. This
indicates a much broader shift toward flexible, on-demand equipment models in
the Kingdom”, said Mr. Karan Chechi, Research Director of TechSci Research, a
research-based global management consulting firm.
“Saudi Arabia Forklift Rental
Market – Size, Share, Trends, Opportunity, and Forecast, Segmented By Operating
Weight (Below 5 Ton, 5-10 Ton, Above 10 Ton), By Propulsion Type (Diesel,
Electric, Others), By Rental Period (Short Term, Medium Term, Long Term), By
Region, By Competition, 2020-2030F”, assesses the market's future
growth potential and provides data on market size, trends, and forecasts. It
aims to offer comprehensive market insights, helping decision-makers make
informed investment choices. The report also highlights emerging trends, key
drivers, challenges, and opportunities in the Saudi Arabia Forklift Rental
Market.
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